Making money by saving money

Here are some posts taken from the Simple Living Forum:

Ben Franklin said – A penny saved is a penny earned.

It seems to me that it is easy to forget that we can save pennies (and nickels, dimes,…) and in effect EARN money at a good clip. With the taxation system as it is, saving a dollar is (for some of us) as good as earning 1.5 dollars through actual employment.

So, if you don’t have a regular job, what can you do with your time, creativity and energy to save some money in your day-to-day living?

Here are 5 of my answers:

1. Rotate my tires, check my tire pressure, change the oil, …

2. Hang out my clothes to dry. (Saves electric/gas, maybe the dryer will last longer, maybe the clothes will last longer,…)

3. Anticipate purchasing “needs” and watch for true deals on them.

4. Cook good and healthy food from scratch instead of buying the finished product at a restaurant or the grocery store.

5. Do a better job of keeping track of and using up what I’ve already acquired.

  • Propagating plants, either by collecting seed or taking cuttings.Use-it-up cooking – put off buying groceries till the cupboard is bare.

    Checking the “free” section of our local craigslist.

    Keeping a list of fun, free, local/home things to do, rather than hopping in the car.

    Mending clothes and linens, polishing shoes, making sure things are well kept.

    Being organized so I don’t have duplicate purchases (esp. helpful with hardware items like nails and screws.)

  •  We retired at age 55 and researched where to move now that we were no longer tied to the workplace. We looked into how much taxes were, utilities and need for cooling in the summer and heat in the winter, ability to ride our bikes as opposed to driving among other things. We sold our house and bought one of equal value. Our taxes: from $8,000 in NY to $2,000 in Florida. Utility bill has not been over $80 yet, but august has been really hot so will be higher. One car with little mileage put on due to being able to walk and ride bikes, plus proximity to grocery store, library, farmers market etc. I estimate our living expenses will be at least $10,000 per year less altogether based on tracking this year as opposed to two years ago. Property Taxes play a huge part, as well as only one car. It makes a huge difference in how much you need to leave the workforce.
  •  Making money by saving money is how I spent my first year of retirement! 
  • Some of the things I did:
  • Sold no-longer-used items on craigslist and ebay.
  • did preventive maintenance around the house. A little money on microbial drain cleaner is cheaper than hiring the ‘rooter people. Replacing the hoses to the washing machine cost a few bucks for braided steel hoses, but there’s no worry that old rubber hoses will leak and cause much more expensive damage.
  • did the lawn mowing and snow blowing myself instead of hiring people. Time was more flexible and getting out of the house didn’t hurt, either. 
  • quit spending money on lunches and breakfasts/coffee out during the workday. I still get together with friends for lunch or a drink after work, but it’s still $40-50 a week saved.
  • Hanging on to my old car just a little longer. No car payments now for many years and hate to have one again. I could pay cash for a new car but can’t justify the expense since this old Volvo gets me from A to B just fine.
  • Drinking filtered tap water instead of soda/bottled water/beer/wine
  • Before purchasing, putting a “hold” on the want for a week or so and not buying it until then
  • Cut out automatic internet subscriptions (like Consumer Reports)
  • Making my dog treats (old marrow bone, stuffed with cheap leftover meat and sealed with layer of peanut butter) rather than buying those horrendously expensive dog treats (often made overseas).
  •  Everything that comes into the house must be washable or is not bought.
  • Cold water washing with vinegar rinse.
  • Pour half of a new bottle of shampoo into old bottle and fill each bottle with water to extend life of the shampoo at no loss of cleaning.
  • Don’t buy on impulse!!!!!!!!!
  • Sit down and really think about what is important to your life and its enjoyment. – I love theatre, opera and ballet so I get the cheapest subscription for theatre, see opera and ballet on HD for less than a quarter of just one ticket.
  • Join a horticultural society for really thrifty (I don’t like the word cheap) information meetings, modest cost plant sales and great friends.
  • Use local hiking trails for your exercise instead of a gym.
  • Enter your food intake on My Fitness Pal instead of joining a weight watching club.
  • Plan a modest starch, protein and vegetable/fruit intake at each of three meals with planned simple snacks in between and DO IT!
  • Avoid pop/soda and any artificial manufactured sweets – waste of calories and poor nutritional intake.

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